First oil rig manufactured in Egypt now at Egyptian-Chinese Drilling Company

Molla explained that the start of manufacturing rigs locally is a new and important step that enables the petroleum sector to make optimal use of its capabilities and accelerate its plans to drill wells to increase the production of petroleum and gas resources.

This comes especially at a time when the demand for rigs is growing as a result of the increase in petroleum activity with the rise in global oil prices.

Molla added that manufacturing these rigs is a new successful step on the path of local manufacturing for the needs of oil and gas industry projects and significantly increasing the local component – thereby helping reduce imports and save spending in foreign currency.